Oyo State Governor, Seyi Makinde, has revealed that his administration has taken significant steps to alleviate the economic burden on residents amidst the current economic challenges. Speaking at the stakeholders’ consultative meeting on the 2025 Budget and the unveiling of the Oyo State Agenda 2040, held at the International Conference Centre, University of Ibadan, Makinde highlighted the impact of his government’s actions over the past five years.
The governor announced that the 32-kilometer East Wing section of the Ibadan Circular Road, spanning Lagos-Ibadan Expressway to Badeku Village on Ibadan-Ile Ife Road, is expected to be completed in 2025 and will be Nigeria’s first freeway. He also unveiled the Five-Year Medium Term Development Plan 2023-2027, aimed at creating an environment for decent jobs and adding value to the state’s economy.
Makinde emphasized the importance of stakeholder engagement, stating, “We are not just engaging and talking… Because our stakeholders have taken ownership of this process, we take feedback from what you are telling us while you take ownership of this, and we monitor its implementation, we have raised that bar.” He noted that the economic landscape has changed drastically over the last five years, with the state government taking actions to mitigate the effects of the partial removal of the fuel subsidy and the peg on the Naira to dollar exchange rate.
The governor expressed his commitment to implementing the 2024 Budget, which has reached 53% implementation, and aims to achieve 90% implementation by the end of the year. He solicited input from stakeholders for the 2025 budget, emphasizing that “this is your government and we will always act in your best interest.”
Makinde also highlighted the state government’s investment in the Ibadan Circular Road, named after former Governor Rashidi Ladoja, which is expected to generate economic benefits for the state. He pledged to drive development in the coming year, working with the private sector to promote inclusive agribusiness programs and youth training, and supporting smallholder farmers.
The Commissioner for Budget and Economic Planning, Prof Musbau Babatunde, praised the bottom-up approach to budget preparation, which has yielded positive results over the past five years. The Chairman of the House of Assembly Committee on Budget, Public Accounts, Finance and Appropriation, Sunkanmi Babalola, assured residents of the Assembly’s commitment to equitable budget implementation.
Stakeholders, including development partners, community associations, and market groups, lauded the inclusive approach to budgeting and expressed confidence in the people-oriented 2025 budget.
